Front page article - The Harsh Reality

[AndyC]

One financially astute persons view of the predicament besetting Everton Football Club and this is not doom-mongering, rather a clinical and plain language assessment of the harsh reality.

Opinion: The Harsh Reality - GrandOldTeam

Having considered quietly and at length, I believe this accurately summarises Everton’s current predicament in relatively simple terms. 4. If Everton cannot find £1m cash a day then Everton would be bankrupt and would go into what is called administration. Under Premier League rules clubs that...

www.grandoldteam.com

 

[PrekisCrossBarlow!]

Sorry for daft question but re the above, are Administration and Bankruptcy the same thing?

And do they both remove all debt from the club, meaning we would be debt free in the Championship next year, albeit probably not allowed to make transfers?

Cos that all sounds less harrowing by the day, especially if it meant the end of Bill and Farhad.

 

[Leylo]

We're done for... remember going to that first protest Andy in the summer how right were some the guys I spoke to there what a mess so sad...

 

[Neiler]

One financially astute persons view of the predicament besetting Everton Football Club and this is not doom-mongering, rather a clinical and plain language assessment of the harsh reality.

Opinion: The Harsh Reality - GrandOldTeam

Having considered quietly and at length, I believe this accurately summarises Everton’s current predicament in relatively simple terms. 4. If Everton cannot find £1m cash a day then Everton would be bankrupt and would go into what is called administration. Under Premier League rules clubs that...

www.grandoldteam.com

We've speculated in the past few days on this, with a few of us highlighting the red flags appearing almost daily before our eyes. Im still in disbelief in a way but the evidence is becoming crystallised.

Perhaps a slim hope, i might suggest is if Moshiri dropped his price, gave the club away it would drum interest and investment.

 

[neil999]

Sounds like utter guesswork

 

[The binman chronicles]

The club need 365 million to run per year? Erm no... 777 would have done a runner and we would just be heading into administration tomorrow as no one is going to say we'll just borrow more and hope it gets better.

 

[AndyC]

Sorry for daft question but re the above, are Administration and Bankruptcy the same thing?

And do they both remove all debt from the club, meaning we would be debt free in the Championship next year, albeit probably not allowed to make transfers?

Cos that all sounds less harrowing by the day, especially if it meant the end of Bill and Farhad.

Bankruptcy forces a business into Administration

 

[MikeH72]

The club need 365 million to run per year? Erm no...

Please show your working out, you sound confident like you have some knowledge that they don’t.

 

[neil999]

'Financial background 'that's me convinced, do they work in the bookies?

 

[Neiler]

The club need 365 million to run per year? Erm no...

£250 mill for the future ground costs, + the wage bill, + interest costs 10-15% on £300 mill of external debt on our existing loans, its very possible mate.

 

[blue to the bone]

Written by the esk I imagine?

 

[MikeH72]

I’m utterly staggered that people still doubt the severity of the situation tbh. It’s just complete blind delusion in my eyes.

 

[AndyC]

The club need 365 million to run per year? Erm no... 777 would have done a runner and we would just be heading into administration tomorrow as no one is going to say we'll just borrow more and hope it gets better.

Without serious investment and improvement in cash flow, administration is a very real threat

 

[AndyC]

Written by the esk I imagine?

Season Ticket holder Esk isn’t

 

[hallamblue]

I think the truth is probably that we needed the £100 million from MSP to fund the stadium, and the loan from 777 to cover day to day losses. I suspect the TV money goes straight to R&M and we only have match day revenue left to cover costs, which it doesn't. I suspect the 777 loan will keep us going for a couple of months.